By Marcus Leach
Data released by the Office for National Statistics (ONS) has revealed that the UK's public sector net borrowing, excluding financial interventions, fell to £6.5 billion in October.
According to the stats borrowing has fallen from £7.7 billion a year ago, with the latest figures slightly below where they were expected to be.
This news comes just a week before Chancellor George Osborne is to deliver his Autumn Statement, which is in theory a budget update and review.
Borrowing between April and September was also revised down by £1.7bn, the ONS said.
Highlights of data:
- a current budget deficit excluding the temporary effects of financial interventions of £4.5 billion in October 2011
- net borrowing excluding the temporary effects of financial interventions of £6.5 billion in October 2011
- net debt excluding the temporary effects of financial interventions was £966.6 billion, equivalent to 62.3 per cent of GDP
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